Inflexion backs £40m MyPolicy MBO

A spokesperson for Inflexion told unquote" the GP has acquired a majority stake in the company, though Inflexion declined to reveal whether a debt package had been secured to support the transaction.

The transaction marks the debut investment made by the Inflexion Enterprise Fund IV, which held a final close on £250m in May 2016. The vehicle will typically make equity investments of between £10-20m.

The deal will see co-founder Mike Quinn leave the business, with Inflexion introducing Mark Wood – former CEO of Axa, AA and Prudential – as MyPolicy's chairperson. Inflexion partner Tim Smallbone and investment director Jonathan Ma will also take a seat on the MyPolicy board.

Inflexion has a track record of investing in the insurance sector. Previous investments in the industry include Fish Insurance, which it acquired in 2010, and National Accident Helpline, which it exited via an £82.5m IPO in 2014.

Company
Founded in 1995 and headquartered in Halesowen, West Midlands, MyPolicy is an insurance broker focusing on telematics smart box car insurance. It sources insurance policies and manages the installation of smart boxes to monitor and analyse driving behaviour.

People
Inflexion Private Equity – Tim Smallbone (partner, head of enterprise); Jonathan Ma (investment director).
MyPolicy – Patrick Quinn (CEO).

Advisers
Equity – Deloitte (financial due diligence); DWF (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Financials
• United Kingdom
• Inflexion Private Equity